Australia's Natural-Gas Producers Look Tempting

With their stocks down and their long-term prospects up, the companies offer good value to investors.

The smog blanketing northern China, along with uncertainty over Japan's nuclear future, make a compelling case for getting behind producers of the cleaner-burning fuel. But cast your eyes south to Australia, where a $160 billion gas-export-facility investment boom is under way, and it's the bears who...